Spring Eq in Rhode Island vs the state
53.3%Denial rate+34.60 pts vs state
63.6%Decision denial rate+40.44 pts vs state
28.0%Origination rate-31.73 pts vs state
9.23%Median rate+2.47 pts vs state
3.15Rate spread (pts)+2.96 pts vs state
$114kMedian applicant income
102Loans originated
194Denied
Trend in Rhode Island
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 244 | 53 | 66.8% | 10.83% | #36 |
| 2024 | 308 | 95 | 55.8% | 10.28% | #32 |
| 2025 | 364 | 102 | 53.3% | 9.23% | #28 |
What Spring Eq lends in Rhode Island
By loan purpose
By loan type
Why it denied Rhode Island applicants
Where in Rhode Island
Counties with the most Spring Eq applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Providence County | 222 | 53 | 126 | 56.8% |
| Kent County | 59 | 20 | 31 | 52.5% |
| Washington County | 41 | 16 | 19 | 46.3% |
| Newport County | 28 | 8 | 12 | 42.9% |
| Bristol County | 14 | 5 | 6 | 42.9% |
Other large lenders in Rhode Island
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| Citizens Bank | C | 6,329 | 27.8% | 7.40% |
| Navigant Credit Union | B | 2,847 | 16.1% | 6.50% |
| COASTAL1 Credit Union | B | 1,931 | 24.3% | 6.75% |
| The Washington Trust Company, of Westerly | C | 1,755 | 21.9% | 6.38% |
| Rocket Mortgage | C | 1,430 | 19.7% | 6.75% |
| Movement Mortgage | A | 1,308 | 3.6% | 6.63% |
| Bank of America | F | 1,298 | 39.1% | 6.24% |
| Primary Residential Mortgage | C | 1,056 | 8.4% | 6.63% |
| BankNewport | B | 1,014 | 19.7% | 6.63% |
| CMG Mortgage | A | 992 | 7.6% | 6.63% |
Frequently asked questions
Rhode Island: 364 applications in 2025, of which 102 were originated and 194 denied.
53.3% of all applications, or 63.6% of the applications it actually decided on. The Rhode Island statewide average across all lenders was 18.7%.
The median rate on loans Spring Eq originated in Rhode Island in 2025 was 9.23%, against a statewide median of 6.75%.
About this data. Figures are Spring Eq's own HMDA filing for properties located in Rhode Island, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology